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A simple 5405 questions

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    A simple 5405 questions

    Today we efiled a return without Form 5405.
    It was acknowledged by the IRS.
    Do you think that we can send an amendment with Form 5405 right away or wait until the money in is the bank account to make sure of the refund amount that we are putting on the 1040X?
    JG

    #2
    Amendment

    Given the fact if your taxpayer is on direct deposit (not a paper check) those are usually processed in a week to two weeks depending on drain time for EF

    Experience has been it takes 6-8 weeks to process and amended return without the 5405, and aren't the form 5405's taking longer.

    I haven't had any experience, but I would think, it would be "safe" to file the amended. Just a guess.

    Sandy

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      #3
      Thanks.. There is no reason I can think of that the refund would be different. But I'll give the client the option of waiting.
      JG

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